• Litecoin is showing bearish signs with its exchange rate against the US dollar exceeding $75.
  • The LTC price is currently below $85 and the 55 simple moving average (4 hours).
  • A critical bearish trend line has formed on the 4-hour chart of the LTC/USD pair (data from Coinbase) with resistance near $84.8.
  • If the $85 resistance zone is cleared, this currency pair might start to surge significantly.
  • Similar to Bitcoin, Litecoin’s exchange rate against the US dollar has dropped below $85.
  • If the LTC price remains below the $85 resistance, it may continue to decline.

Litecoin Price Analysis

In the past few hours, Bitcoin, Ethereum, Ripple, and Litecoin against the US dollar have seen a brief resurgence. Earlier, LTC closed below the $85 resistance, entering a bearish zone.

The price broke through the $80 support zone and tested the $75 support. A low was formed around $75.32, and the price is now attempting a rebound. There is a move above the 23.6% Fibonacci retracement level from the swing high of $79.76 to the low of $75.32.

The trading price is now below $85 and the 55 simple moving averages (4 hours). On the upside, the price is facing resistance near the $82.50 area.

The next major resistance is near $85. On the 4-hour chart of the LTC/USD pair, another key bearish trend line has formed with resistance near $84.8. The trend line is close to the 61.8% Fibonacci retracement level from the swing high of $79.76 to the low of $75.32.

A clear break above the $85 level could push the price towards the $92 or even the $95 level. The next significant resistance could be $100.

On the downside, the immediate support is near the $78 area. The next key support is around $75. If there is a downward break below the $75 support, the price may accelerate lower towards the $70 level in the short term.

Looking at the chart, the Litecoin price is noticeably below $85 and the 55 simple moving averages (4 hours). Overall, the price may continue to decline if it remains below the $85 resistance.

4-hour MACD – The MACD for LTC/USD is now losing momentum in the bearish zone.

4-hour RSI – The RSI for LTC/USD is now below the 50 level.

Key Support Levels – $78.00 and $75.00.

Key Resistance Levels – $82.50 and $85.00.